Inactive Instrument

NewAge, Inc.

Equities

NBEV

US6501941032

Motion for Asset Sale Filed by NewAge, Inc.

November 07, 2022 at 12:00 am EST

NewAge, Inc. filed a motion in the US Bankruptcy Court for the sale of properties of its wholly owned subsidiary on November 7, 2022. The debtor seeks the Court's approval for the sale of properties of its subsidiary The NABC Entities to Legacy Distribution Group, LLC, for a purchase price of $4.50 million in pursuant to the asset purchase agreement, dated September 8, 2022. The debtor's assets include its all of the NABC Entities' interests in the properties, leases, inventory, tangible personal property, intellectual property, the operating account, accounts receivable, purchased contracts, licenses and permits, and goodwill.

The buyer is represented by Christopher T. Massey of Massey Legal Services, PLLC as its legal counsel.

Latest news about NewAge, Inc.

NewAge, Inc. Went Out of Business	23-05-04	CI
Order for Dismissal For Morinda Holdings, Inc.	23-03-06	CI
Modified Third Amended Liquidation Plan and Related Disclosure Statement Approved for NewAge, Inc.	23-03-01	CI
First Motion for Exclusivity Period Extension Approved For NewAge, Inc.	23-01-23	CI
Third Amended Disclosure Statement Approved on Interim Basis for NewAge, Inc.	23-01-05	CI
Third Amended Combined Liquidation Plan and Disclosure Statement Filed by NewAge, Inc.	23-01-04	CI
Second Amended Combined Liquidation Plan and Disclosure Statement Filed by NewAge, Inc.	22-12-30	CI
First Motion for Exclusivity Period Extension Filed by NewAge, Inc.	22-12-27	CI
First Amended Combined Liquidation Plan and Disclosure Statement Filed by NewAge, Inc.	22-12-20	CI
Combined Liquidation Plan and Disclosure Statement Filed by NewAge, Inc.	22-11-30	CI
Motion for Case Dismissal Filed for NewAge, Inc.	22-11-30	CI
Motion for Asset Sale Approved for NewAge, Inc.	22-11-22	CI
Motion for Asset Sale Filed by NewAge, Inc.	22-11-07	CI
Motion for Asset Sale Approved for NewAge, Inc.	22-10-17	CI
Notice for Auction Cancellation & Selection of Successful Bidder Filed by NewAge, Inc.	22-10-06	CI
Final DIP Financing Approved for NewAge, Inc.	22-09-30	CI
Bidding Procedure Approved for NewAge, Inc.	22-09-21	CI
Top Premarket Decliners	22-09-07	MT
NewAge, Inc.(OTCPK:NBEV.Q) dropped from NASDAQ Composite Index	22-09-07	CI
Sector Update: Consumer Stocks Mixed Premarket Tuesday	22-09-06	MT
Sector Update: Consumer	22-09-06	MT
NewAge Gets Court Approval of First Day Motions in Bankruptcy Process	22-09-06	MT
NewAge, Inc.(NasdaqCM:NBEV) dropped from S&P TMI Index	22-09-06	CI
NewAge, Inc.(NasdaqCM:NBEV) dropped from S&P Global BMI Index	22-09-05	CI
US Futures Slightly Mixed Ahead of Nonfarm Payrolls Report	22-09-02	MT

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Company Profile

NewAge, Inc. is a direct-to-consumer (D2C) organic and healthy products company. The Company builds brands across three primary platforms, including Health and Wellness, Inner and Outer Beauty, and Nutrition and Weight Control. Its Health and Wellness platform categories include Liquid Superfoods, Functional Beverages, Vitamins + Supplements, Mental + Physical Relief, Water + Air Filtration, Essential Oils and Home Care products. Its Nutrition and Weight Control platform categories include Weight Management, Intermittent Fasting, Sports Performance and Energy products. Its Inner and Outer Beauty platform categories include Facial Skin Care, Cosmetics, Beauty Supplements, Hair Care and Bath + Body products. Its brands include Hiro, LIMU, Nutrifii, Slenderiiz, Tahitian Noni, TeOra, Zennoa, Lucim and Reviive. It commercializes a portfolio of organic and healthy products worldwide primarily through a D2C route to market distribution system across more than 50 countries.

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